Demonetization spells success for e-pharmacies, online healthcare

Online space has lately been the dominant player in almost every sector, from shopping to travel to entertainment and now even pharmacies. With a rapidly increasing emphasis on providing affordable and accessible healthcare, e-healthcare startups have completely disrupted traditional business models over last few years.

As the digital age rises, so does the tendency to buy online. Consumers in today’s age are prone to buying online as it gives them the much desired ease of access to quality healthcare facilities.

Although demonetization has impacted everyone at large, it has had a negligible effect on the online market in general and the e-pharmacy domain in particular.

Online commerce has experienced a huge jump in sales, as the market moved towards cashless transactions. Demonetization has in fact opened an electronic gateway to conduct cashless transactions, thereby, maintaining transparency and accountability in the trade dealings.

Post demonetization and the Government’s focus on digitizing and pushing economic reforms to upscale the e-commerce sector, the online healthcare industry in India is all set to emerge as a trendsetter in the e-commerce space.

Take for example healthcare startup, Just Relief. Just Relief is a one stop destination for all pharmaceuticals, healthcare and wellness products and services that caters to Indian consumers with personalized healthcare requirements. It has over 5,000 doctors listed on it. Services such as health maintenance, hospital discovery, at home labs, diagnostics and vaccinations are all accessible.

Founder and CEO, Just Relief Amit Goel, says, “Post demonetization, the online pharma space has had a positive impact considering that they offer not only one stop services at-home but also because the consumer has access to cashless payments. Tech healthcare companies like Just Relief are now giving the convenience of both time and money transactions. Given the fact that consumers can also avail heavy discounts on our portal and mobile apps, it has increased traffic to e-pharmacy businesses.”

“Although the mood in the e-pharmacy sector is positive, India still lacks a robust public healthcare system that could provide high quality yet affordable healthcare facilities. However, with technological advancements such as adoption of ICT and digital tools, the healthcare sector will sail easily during the demonetization revolution,” he added.

All in all the sector is all set to grow and the healthcare companies specially online healthcare providers, have a huge opportunity to broaden their horizon and scale-up their growth.

This will in turn allow for an increased contribution to the national GDP and financial inclusion in the long run. Time is ripe for the healthcare industry to now invest in processing and adopting technological solutions for further growth.